Malkiel, Burton G. - In: Journal of Economic Perspectives 27 (2013) 2, pp. 97-108
From 1980 to 2006, the financial services sector of the US economy grew from 4.9 percent to 8.3 percent of GDP. A substantial share of that increase was comprised of increases in the fees paid for asset management. This paper examines the significant increase in asset management fees charged to...
